Email: info@taxreturn.co.uk



Please find below details of the new tax rates and allowances

which are applicable for the year commencing April, 2017.


Please do not hesitate to contact us if you would like further information

or you wish to discuss any of the tax rates or allowances in more detail.


                                 

Capital Allowances - Tax Rates 2017/18

Some Useful Rates

  Weekly Benefit
  2017/18 2016/17
Basic Retirement Pension    
Single person £122.30 £119.30
Couple £195.60 £190.80
Pension Credit Standard Minimum Guarantee    
Single person £159.35 £155.60
Couple £243.25 £237.55
New State Pension    
  £159.55 £155.65
Child Benefit    
First eligible child £20.70 £20.70
Each subsequent child £13.70 £13.70
Statutory Sick Pay (SSP)    
Average weekly earnings £113 or over (2016/17 £112) £89.35 £88.45
Statutory Maternity Pay (SMP)    
90% of average weekly pay First 6 weeks First 6 weeks
Lower of £140.98 (2016/17 £139.58) or 90% average weekly earnings Next 33 weeks Next 33 weeks
Minimum rate £101.70 £100.80
Statutory Adoption Pay (SAP) 39 weeks 39 weeks
Statutory Paternity Pay (SPP)* 2 weeks 2 weeks
Shared Parental Pay Up to 37 weeks, depending on mother's unused SMP period Up to 37 weeks, depending on mother's unused SMP period
SAP, SPP and Shared Parental Pay    
Lower of £140.98 (2016/17 £139.58) or 90% average weekly earnings
Minimum rate £101.70 £100.80
 
Jobseeker's Allowance    
Single person (25 or over) £73.10 £73.10
Couple (both 18 or over) £114.85 £114.85
National Living Wage From 1 April 2017 From 1 April 2016
Age 25 and over £7.50 £7.20
National Minimum Wage From 1 April 2017 From 1 Oct 2016
  21 - 24 £7.05 £6.95
18 - 20 £5.60 £5.55
16 and 17 £4.05 £4.00
Apprentices* £3.50 £3.40

*Rate applies to apprentices under 19, or those 19 and over in the first year of apprenticeship.

Universal Credit (monthly rates)    
Single person (25 or over) £317.82 £317.82
Couple (where one or both 25 or over) £498.89 £498.89

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